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Stock of stationery is which type of account |
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Answer» If you're USING stationery in your DAILY business, then you have a stock of it, so until it's used up, it's an ASSET (prepaid stationery). Once it's used up, it becomes an expense. SINCE stationery is usually a small amount, it's expensed right away so not to complicate the prepaid asset accounting. |
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